TD Asset Management Inc Sells 35,726 Shares of First Majestic Silver Corp. $AG

TD Asset Management Inc lowered its position in First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 1.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,972,672 shares of the mining company’s stock after selling 35,726 shares during the quarter. TD Asset Management Inc owned 0.40% of First Majestic Silver worth $32,956,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of AG. Van ECK Associates Corp lifted its position in shares of First Majestic Silver by 32.0% in the 3rd quarter. Van ECK Associates Corp now owns 43,225,807 shares of the mining company’s stock worth $531,234,000 after acquiring an additional 10,471,543 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of First Majestic Silver by 38.5% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,932,368 shares of the mining company’s stock worth $232,539,000 after acquiring an additional 5,265,612 shares during the period. Alps Advisors Inc. lifted its position in shares of First Majestic Silver by 108.7% in the 3rd quarter. Alps Advisors Inc. now owns 7,203,207 shares of the mining company’s stock worth $88,527,000 after acquiring an additional 3,751,376 shares during the period. Artemis Investment Management LLP bought a new stake in shares of First Majestic Silver in the 4th quarter worth approximately $45,898,000. Finally, Hillsdale Investment Management Inc. bought a new position in shares of First Majestic Silver during the 3rd quarter worth approximately $32,795,000. Institutional investors own 27.16% of the company’s stock.

First Majestic Silver Price Performance

First Majestic Silver stock opened at $16.98 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.73 and a quick ratio of 2.54. The company has a market capitalization of $8.38 billion, a PE ratio of 28.29 and a beta of 0.86. First Majestic Silver Corp. has a one year low of $7.74 and a one year high of $32.03. The business has a 50 day simple moving average of $20.71 and a 200 day simple moving average of $20.41.

First Majestic Silver (NYSE:AG) (TSE:FR) last posted its earnings results on Tuesday, May 12th. The mining company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.02). First Majestic Silver had a return on equity of 11.19% and a net margin of 19.51%.The company had revenue of $476.67 million for the quarter, compared to the consensus estimate of $522.00 million. During the same quarter last year, the business earned $0.05 EPS. First Majestic Silver’s quarterly revenue was up 95.3% compared to the same quarter last year. On average, sell-side analysts forecast that First Majestic Silver Corp. will post 0.74 EPS for the current fiscal year.

First Majestic Silver Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Wednesday, May 20th were given a $0.0171 dividend. This represents a $0.07 annualized dividend and a yield of 0.4%. The ex-dividend date was Wednesday, May 20th. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.01. First Majestic Silver’s dividend payout ratio is presently 11.67%.

Analysts Set New Price Targets

Several research firms recently commented on AG. HC Wainwright raised their target price on First Majestic Silver to $30.75 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. BMO Capital Markets upgraded First Majestic Silver from a “market perform” rating to an “outperform” rating in a research report on Tuesday, March 24th. Zacks Research downgraded First Majestic Silver from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Weiss Ratings upgraded First Majestic Silver from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, May 13th. Finally, Scotiabank upgraded First Majestic Silver to a “hold” rating in a research report on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, First Majestic Silver currently has an average rating of “Moderate Buy” and a consensus target price of $25.25.

First Majestic Silver Company Profile

First Majestic Silver Corp. (NYSE:AG) engages in the production of silver from its wholly owned operations in Mexico. Headquartered in Vancouver, British Columbia, the company focuses on acquiring, developing and operating high-grade silver projects. Established in 2002, First Majestic has built a multi-mine portfolio to supply silver primarily for the global industrial and investment markets while generating by-products such as gold, lead and zinc concentrates.

First Majestic’s principal operations are located in the historic Mexican Silver Belt, with producing mines including La Encantada in Coahuila, Santa Elena in Sonora and La Parrilla in Durango.